Swiss National Bank intervenes to curb franc's rise

The Swiss National Bank decided to intervene in the currency market by capping the franc for the first time in more than three decades. The move, which caused the franc to drop 8.4% against the euro, is expected to spur similar efforts from other countries. "We will see a lot more intervention now; we will see manipulation on a grand scale," said Stuart Thomson of Ignis Asset Management. "Traditional safe havens are trying to undermine the value of their currencies."

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